Diamond Offshore Drilling, Inc.

Rig Status Report

August 3, 2015
Updated information noted in bold print
RECENT COMMITMENTS (See Body of Report For Contract Details)
Ocean BlackRhino: Extended term
Ocean Summit: Three-month extension
Ocean Guardian: One firm well
Ocean Apex: 18-month term contract
Water1

Contract

Depth
Rig Name

(feet)

Year
Type

Built

Location

Operator

Dayrate

Estimated

Estimated

(USD)

Start Date

End Date

Gulf of Mexico - U.S.

Ocean BlackHawk

12,000 DS 15K DP

2014

US GOM

Anadarko

495,000 late May 2014

mid Jun 2019

Ocean BlackHornet

12,000 DS 15K DP

2014

US GOM

Anadarko

495,000 mid Apr 2015

mid Apr 2020

Ocean BlackRhino (note 5)

12,000 DS 15K DP

2014

US GOM
US GOM
US GOM

Murphy
Hess

398,000 late May 2015

late Sep 2016
400,000 mid Dec 2016

late Sep 2016

mid Dec 2016
mid Dec 2019

Ocean BlackLion

12,000 DS 15K DP

2015

Canary Islands
US GOM

Hess

Q2 2012
400,000 mid Dec 2015

mid Dec 2015

mid Dec 2019

Gulf of Mexico - Mexico

Ocean Summit (note 6)

300 JU IC

1972

Mexico
Mexico

Pemex
Pemex

85,999 mid Sep 2012

75,000 late May 2015

late May 2015

late Aug 2015

Ocean Scepter

350 JU 15K IC

2008

Mexico

Pemex

115,000 early Jan 2015

early Mar 2016

1975

Mexico

Pemex

115,000 early May 2015

early Mar 2016

North Sea / Mediterranean / W. Africa

Ocean Guardian
1,500 SS 15K

1985

UK

Kinsale Energy

220,000 mid Jul 2015

mid Aug 2015

Ocean Patriot

1983

UK

Shell

400,511 late Oct 2014

late Oct 2017

(note 7)

Ocean Ambassador (note 7)

1,100 SS

3,000 SS 15K

Please refer to accompanying disclaimer as well as Diamond Offshore's 10-K and 10-Q filings with the SEC.

Page 1 of 9

Water1

Contract

Depth
Rig Name
Ocean Valiant

(feet)

Year
Type

Built

Location

Operator

Dayrate

Estimated

Estimated

(USD)

Start Date

End Date

5,500 SS 15K

1988

UK

Premier Oil

320,000 early Jun 2015

early Dec 2015

Ocean Endeavor

10,000 SS 15K

2007

Black Sea

ExxonMobil

521,665 late Jun 2014

late Dec 2015

Ocean Confidence

10,000 SS 15K DP

2001

Canary Islands

Australasia
Ocean Quest

4,000 SS 15K

1973

Malaysia

Ocean America

5,500 SS 15K

1988

Australia

Apache / Quadrant

265,000 late May 2015

late Aug 2015

Ocean Apex

6,000 SS 15K

2014

Malaysia
Australia

Woodside Energy

285,000 Jun 2016

Nov 2017

Ocean Rover

8,000 SS 15K

2003

Malaysia

Murphy

465,000 early Mar 2014

early Mar 2016

10,000 SS 15K

2008

Singapore
Australia
Australia

Quadrant / Woodside
Apache / Quadrant

late Jun 2015

410,000 mid Jul 2015
350,000 early Oct 2016

mid Jul 2015

early Oct 2016
early Jan 2017

Ocean Monarch

Please refer to accompanying disclaimer as well as Diamond Offshore's 10-K and 10-Q filings with the SEC.

Page 2 of 9

Water1

Contract

Depth
Rig Name
South America
Ocean Alliance

(feet)

Year
Type

Built

Location

Operator

Dayrate

Estimated

Estimated

(USD)

Start Date

End Date

5,250 SS 15K DP

1988

Brazil

Petrobras

367,089 late Jul 2010

mid Jun 2016

Ocean Victory

5,500 SS 15K

1997

Trinidad

BP

398,000 early May 2015

mid May 2017

Ocean Onyx

6,000 SS 15K

2014

Trinidad
Trinidad

BG International
BG International

390,000 mid Apr 2015

360,000 early Aug 2015

early Aug 2015

early Oct 2015

Ocean Clipper

7,875 DS 15K DP

1997

Brazil

Petrobras

312,625 late Jan 2015

early Dec 2015

Ocean Courage

10,000 SS 15K DP

2009

Brazil
Brazil

Petrobras
Petrobras

567,000 late Feb 2015

455,000 late Oct 2015

late Oct 2015

late Feb 2018

Ocean Valor

10,000 SS 15K DP

2009

Brazil
Brazil

Petrobras
Petrobras

440,000 early Sep 2011

455,000 mid Oct 2015

mid Oct 2015

mid Oct 2018

UNDER CONSTRUCTION
Ocean GreatWhite
10,000 SS 15K DP

2016

S. Korea
Australia

COLD STACKED
Ocean King
Ocean Nugget
Ocean Spur
Ocean Titan
Ocean Nomad
Ocean Princess
Ocean Vanguard
Ocean Lexington (note 8)
Ocean General
Ocean Star
Ocean Baroness

300 JU IC
300 JU IC
300 JU IC
350 JU 15K IC
1,200 SS
1,500 SS 15K
1,500 SS 15K
2,200 SS
3,000 SS
5,500 SS 15K
8,000 SS 15K

1973
1976
1981
1974
1975
1975
1982
1976
1976
1997
2002

US GOM
US GOM
Malaysia
US GOM
UK
UK
UK
Trinidad
Malaysia
US GOM
Brazil

BP

Q3 2013
585,000* H2 2016

H2 2016
H2 2019

NOTES
(1.) Water Depth refers to the rig's rated operating water depth capability. Often, rigs are capable of drilling or have drilled in greater water depths.

(2.) Rig Type and capabilities: JU=Jack-up; SS=Semisubmersible; DS=Drillship; 15K=15,000 PSI Well-Control System; DP=Dynamically Positioned Rig; IC=Independent-L

Please refer to accompanying disclaimer as well as Diamond Offshore's 10-K and 10-Q filings with the SEC.

Page 3 of 9

Water1

Contract

Depth

Year

Dayrate

Estimated

Estimated

Rig Name
Type
Built
Location
Operator
Start Date
End Date
(feet)
(USD)
(3.) Year Built represents when rig was (or is expected to be) built and originally placed in service or year redelivered with significant enhancements that enabled the rig to b
category than when originally constructed.
2

(4.) Planned Downtime only includes downtime periods that as of this report date are, or have been, planned and estimable and do not necessarily reflect actual downtime
may be experienced in the form of possible mobes for new jobs not yet contracted, possible acceptance testing at new jobs, and unplanned maintenance and repair
accelerated or delayed for various reasons.

(5.) Before 1 December 2015, Murphy can revert contract term on the Ocean BlackRhino to its previous 265-day duration and pay a lump sum payback fee based on a ra

(6.) In May 2015, PEMEX delivered to our subsidiary a notice of termination of the Ocean Summit contract but then rescinded its termination and, in June 2015, our subsidia
contract at a lower dayrate.
(7.) Our subsidiary and PEMEX have renegotiated the contracts for the Ocean Ambassador and the Ocean Scepter at lower dayrates
(8.) In July 2015, PEMEX delivered to us a notice to initiate the rescission of the Ocean Lexington contract, which process is currently underway.

General Notes
Average Utilization: Assume rates of 92% for DP units, 96% for conventionally moored rigs, and 98% for jack-ups. Rig utilization rates can be adversely impacted by addi
repairs and maintenance, and other factors.
Options should be assumed to be unpriced unless otherwise indicated.
Dayrates exclude amortized revenue related to amounts earned for certain activities, such as mobe, demobe, contract preparation, etc.
Survey Costs: During surveys, normal operating expense will be incurred, plus additional costs.
US GOM=U.S. Gulf of Mexico

Please refer to accompanying disclaimer as well as Diamond Offshore's 10-K and 10-Q filings with the SEC.

Page 4 of 9

Diamond Offshore Drilling, Inc.

Rig Status Report
August 3, 2015
Updated information noted in bold print
RECENT COMMITMENTS (See Body of Report For Contract Details)
Ocean BlackRhino: Extended term
Ocean Summit: Three-month extension
Ocean Guardian: One firm well
Ocean Apex: 18-month term contract
Water1

Contract

Depth
Rig Name

(feet)

Year
Type

Built

Location

Operator

Dayrate

Estimated

Estimated

(USD)

Start Date

End Date

Status

Gulf of Mexico - U.S.

Ocean BlackHawk

12,000 DS 15K DP

2014

US GOM

Anadarko

495,000 late May 2014

mid Jun 2019

5-year term + unpriced option

Ocean BlackHornet

12,000 DS 15K DP

2014

US GOM

Anadarko

495,000 mid Apr 2015

mid Apr 2020

5-year term + unpriced option

Ocean BlackRhino (note 5)

12,000 DS 15K DP

2014

US GOM
US GOM
US GOM

Murphy
Hess

398,000 late May 2015

late Sep 2016
400,000 mid Dec 2016

late Sep 2016

mid Dec 2016
mid Dec 2019

Extended term
Contract prep and customer acceptance
3-year term

Ocean BlackLion

12,000 DS 15K DP

2015

Canary Islands
US GOM

Hess

Q2 2012
400,000 mid Dec 2015

mid Dec 2015

mid Dec 2019

Mobe to GOM via Canary Islands; prep an

4-year term

Gulf of Mexico - Mexico

Ocean Summit (note 6)

300 JU IC

1972

Mexico
Mexico

Pemex
Pemex

85,999 mid Sep 2012

75,000 late May 2015

late May 2015

late Aug 2015

985-day term
Extension

Ocean Scepter

350 JU 15K IC

2008

Mexico

Pemex

115,000 early Jan 2015

early Mar 2016

Remainder of 639-day term at revised ra

1975

Mexico

Pemex

115,000 early May 2015

early Mar 2016

Remainder of 730-day term at revised ra

North Sea / Mediterranean / W. Africa

Ocean Guardian
1,500 SS 15K

1985

UK

Kinsale Energy

220,000 mid Jul 2015

mid Aug 2015

One firm well

Ocean Patriot

1983

UK

Shell

400,511 late Oct 2014

late Oct 2017

3-year term

(note 7)

Ocean Ambassador (note 7)

1,100 SS

3,000 SS 15K

Please refer to accompanying disclaimer as well as Diamond Offshore's 10-K and 10-Q filings with the SEC.

Page 5 of 9

Water1

Contract

Depth
Rig Name
Ocean Valiant

(feet)

Year
Type

Built

Location

Operator

Dayrate

Estimated

Estimated

(USD)

Start Date

End Date

Status

5,500 SS 15K

1988

UK

Premier Oil

320,000 early Jun 2015

early Dec 2015

Two wells + 4 x 1-well options

Ocean Endeavor

10,000 SS 15K

2007

Black Sea

ExxonMobil

521,665 late Jun 2014

late Dec 2015

18-month term (dayrate incl. 50% of poten

+ 6 x 6-month unpriced options.

Ocean Confidence

10,000 SS 15K DP

2001

Canary Islands

Actively marketing

Actively marketing

Australasia
Ocean Quest

4,000 SS 15K

1973

Malaysia

Ocean America

5,500 SS 15K

1988

Australia

Apache / Quadrant

265,000 late May 2015

late Aug 2015

One well

Ocean Apex

6,000 SS 15K

2014

Malaysia
Australia

Woodside Energy

285,000 Jun 2016

Nov 2017

Actively marketing
18-month term, convertible to 24-month
+ 1 x 12-month + 2 x 6-month unpriced o

Ocean Rover

8,000 SS 15K

2003

Malaysia

Murphy

465,000 early Mar 2014

early Mar 2016

2-year term

10,000 SS 15K

2008

Singapore
Australia
Australia

Quadrant / Woodside
Apache / Quadrant

late Jun 2015

410,000 mid Jul 2015
350,000 early Oct 2016

mid Jul 2015

early Oct 2016
early Jan 2017

Mobe, contract prep

15 months of 18-month term + 1 year optio
(3 months at reduced rate) on 18-month te

Ocean Monarch

Please refer to accompanying disclaimer as well as Diamond Offshore's 10-K and 10-Q filings with the SEC.

Page 6 of 9

Water1

Contract

Depth
Rig Name
South America
Ocean Alliance

(feet)

Year
Type

Built

Location

Operator

Dayrate

Estimated

Estimated

(USD)

Start Date

End Date

Status

5,250 SS 15K DP

1988

Brazil

Petrobras

367,089 late Jul 2010

mid Jun 2016

6-year term (incl. 50% of potential 15% bo

Ocean Victory

5,500 SS 15K

1997

Trinidad

BP

398,000 early May 2015

mid May 2017

2-year term + 1-year unpriced option

Ocean Onyx

6,000 SS 15K

2014

Trinidad
Trinidad

BG International
BG International

390,000 mid Apr 2015

360,000 early Aug 2015

early Aug 2015

early Oct 2015

One well
One well

Ocean Clipper

7,875 DS 15K DP

1997

Brazil

Petrobras

312,625 late Jan 2015

early Dec 2015

Remainder of 5-year term contract

(incl. 50% of potential 5% bonus)+ unpric

Ocean Courage

10,000 SS 15K DP

2009

Brazil
Brazil

Petrobras
Petrobras

567,000 late Feb 2015

455,000 late Oct 2015

late Oct 2015

late Feb 2018

3-year extension + $112,000 uplift (incl. 50

3-year extension

Ocean Valor

10,000 SS 15K DP

2009

Brazil
Brazil

Petrobras
Petrobras

440,000 early Sep 2011

455,000 mid Oct 2015

mid Oct 2015

mid Oct 2018

Remainder of 5-year term

3-year extension

UNDER CONSTRUCTION
Ocean GreatWhite
10,000 SS 15K DP

2016

S. Korea
Australia

H2 2016
H2 2019

Hyundai shipyard; commissioning; mobe; a

3-year term + 2 x 1-year priced options (@
*Dayrate to increase for customer-request

COLD STACKED
Ocean King
Ocean Nugget
Ocean Spur
Ocean Titan
Ocean Nomad
Ocean Princess
Ocean Vanguard
Ocean Lexington (note 8)
Ocean General
Ocean Star
Ocean Baroness

300 JU IC
300 JU IC
300 JU IC
350 JU 15K IC
1,200 SS
1,500 SS 15K
1,500 SS 15K
2,200 SS
3,000 SS
5,500 SS 15K
8,000 SS 15K

1973
1976
1981
1974
1975
1975
1982
1976
1976
1997
2002

US GOM
US GOM
Malaysia
US GOM
UK
UK
UK
Trinidad
Malaysia
US GOM
Brazil

BP

Q3 2013
585,000* H2 2016

Stacked
Stacked
Stacked
Stacked
Stacked
Stacked
Stacked
Prepare for cold stacking
Stacked
Stacked
Demobe to US GOM; prepare for cold st

NOTES
(1.) Water Depth refers to the rig's rated operating water depth capability. Often, rigs are capable of drilling or have drilled in greater water depths.

(2.) Rig Type and capabilities: JU=Jack-up; SS=Semisubmersible; DS=Drillship; 15K=15,000 PSI Well-Control System; DP=Dynamically Positioned Rig; IC=Independent-L

Please refer to accompanying disclaimer as well as Diamond Offshore's 10-K and 10-Q filings with the SEC.

Page 7 of 9

Water1

Contract

Depth

Year

Dayrate

Estimated

Estimated

Rig Name
Type
Built
Location
Operator
Start Date
End Date
Status
(feet)
(USD)
(3.) Year Built represents when rig was (or is expected to be) built and originally placed in service or year redelivered with significant enhancements that enabled the rig to b
category than when originally constructed.
2

(4.) Planned Downtime only includes downtime periods that as of this report date are, or have been, planned and estimable and do not necessarily reflect actual downtime
may be experienced in the form of possible mobes for new jobs not yet contracted, possible acceptance testing at new jobs, and unplanned maintenance and repair
accelerated or delayed for various reasons.

(5.) Before 1 December 2015, Murphy can revert contract term on the Ocean BlackRhino to its previous 265-day duration and pay a lump sum payback fee based on a ra

(6.) In May 2015, PEMEX delivered to our subsidiary a notice of termination of the Ocean Summit contract but then rescinded its termination and, in June 2015, our subsidia
contract at a lower dayrate.
(7.) Our subsidiary and PEMEX have renegotiated the contracts for the Ocean Ambassador and the Ocean Scepter at lower dayrates
(8.) In July 2015, PEMEX delivered to us a notice to initiate the rescission of the Ocean Lexington contract, which process is currently underway.

General Notes
Average Utilization: Assume rates of 92% for DP units, 96% for conventionally moored rigs, and 98% for jack-ups. Rig utilization rates can be adversely impacted by addi
repairs and maintenance, and other factors.
Options should be assumed to be unpriced unless otherwise indicated.
Dayrates exclude amortized revenue related to amounts earned for certain activities, such as mobe, demobe, contract preparation, etc.
Survey Costs: During surveys, normal operating expense will be incurred, plus additional costs.
US GOM=U.S. Gulf of Mexico

Please refer to accompanying disclaimer as well as Diamond Offshore's 10-K and 10-Q filings with the SEC.

Page 8 of 9

Diamond Offshore Drilling, Inc.

Rig Status Report

Forward-Looking Statements: This report contains "forward-looking statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include,
without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain
or be identified by the words "expect," "intend," "plan," "predict," "anticipate," "estimate," believe," "should," "could," "may," "might," "will,"
"will be," "will continue," "will likely result," "project," "budget," "forecast," and similar expressions. Statements by the Company in the rig
status report that contain forward-looking statements include, but are not limited to, statements regarding the current term, future dayrates,
future status, start and end dates, and comments concerning future contracts and availability, future contract opportunites and termination
rights, letters of intent, utilization, surveys, downtime and other aspects of the Company's drilling rigs, as well as statements concerning
customer discussions and outcomes thereof, the impact of these and related events on our operations and revenues, rigs being upgraded
or to be upgraded and rigs under construction. Such statements are inherently subject to a variety of assumptions, risks and uncertainties
that could cause actual results to differ materially from those anticipated or projected. A discussion of the risk factors that could impact
these areas and the Company's overall business and financial performance can be found in the Company's reports and other documents
filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions,
contract cancellations, customer bankruptcy, operating risks, casualty losses, industry fleet capacity, changes in foreign and domestic oil
and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives
and compliance with governmental regulations, customer preferences and various other matters, many of which are beyond the
Company's control. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements. Each
forward-looking statement speaks only as of the date of the rig status report, and the Company undertakes no obligation to publicly update
or revise any forward-looking statement.

Page 9 of 9